The market extended early gains and hit fresh intraday high in mid-morning trade. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 172.56 points or 0.44% at 39,764.64. The Nifty 50 index was up 48.65 points or 0.41% at 11,896.20.

The S&P BSE Mid-Cap index was up 0.40%, underperforming the Sensex. The S&P BSE Small-Cap index was up 0.77%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1291 shares rose and 773 shares fell. A total of 116 shares were unchanged.

US President Donald Trump tweeted that he is looking forward to meet Prime Minister Narendra Modi and share his disappointment regarding unacceptable tariffs set by India. He tweeted today, I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high Tariffs against the United States, just recently increased the Tariffs even further. This is unacceptable and the Tariffs must be withdrawn!

Cox & Kings hit a lower circuit of 10% at Rs 40.50 after Brickwork Ratings India downgraded the company's non-convertible debenture issue rating from “BWR AA; Stable” to “BWR AA-; Stable”.

Auto stocks witnessed buying support. Ashok Leyland (up 2.22%), Mahindra and Mahindra (up 1.68%), Maruti Suzuki India (up 1.05%), Eicher Motors (up 1.04%), TVS Motor Company (up 0.96%), Hero MotoCorp (up 0.81%), Bajaj Auto (up 0.66%) and Escorts (up 0.5%) advanced.

Shriram Transport Finance was down 0.06% to Rs 1099.30. The company announced that CRISIL has given AA+/stable rating for company's non-convertible debentures.

Larsen and Toubro was up 0.8% to Rs 1563.30 after the company announced that it has won 'large' twin orders from Oil and Natural Gas Corporation. The contract work will cover development of Heera Panna Block of Western Offshore basin which is located about 70 km of South West of Mumbai High and development of Mumbai High South field of Western Offshore basin which is located about 210 km to the West of Mumbai city.

MSTC was up 2% to Rs 86.7 after the company announced that it signed an agreement with Kerala State Electricity Board for providing e-procurement services for solar project across the state.As a part of agreement, MSTC will develop online portal for Kerala State Electricity Board.

Shares of IT companies were mixed. Oracle Financial Services Software (up 0.88%), Persistent Systems (up 0.45%), Mphasis (up 0.39%), TCS (up 0.28%) and Infosys (up 0.12%) gained. Tech Mahindra (down 1.68%), MindTree (down 0.68%), Wipro (down 0.65%), Hexaware Technologies (down 0.33%) and HCL Technologies (down 0.17%) declined.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 69.25, compared with its close of 69.15 during the previous trading session.

The June 2019 F&O contracts expire today, 27 June 2019. Market is likely to see volatility due to F&O expiry as traders roll over positions in the F&O segment from the near month June 2019 series to July 2019 series.